Spend wisely, consumers told |
Written by 3K Admin |
Thursday, 25 March 2010 22:10 |
2010/03/23 Speaking at the launch of the Consumer Research and Resource Centre (CRRC) here, he said the consumer could only be king if he operated in a group and not as an individual. He referred to the government's move to reduce workers' contribution to the Employees' Provident Fund with the aim of putting more cash in the pockets of consumers and encouraging them to spend."However, if the money is not spent wisely it would be detrimental to the future of the consumers themselves," he pointed out.
He urged the government to emulate Vietnam and Cambodia which had introduced a "Competitions Act" in order to curtail monopoly. He said it was important to encourage competition as it would ensure better and cheaper products for the consumer. On the proposed Goods & Services Tax, he said it was to enable the government to collect more taxes because the system worked such that the more consumers bought the more they paid, particularly the rich who bought luxury items. Items frequently used by the poor and low-income group were exempted from this tax, he added. - Bernama Source: http://www.nst.com.my/Current_News/NST/articles/20100323112958/Article/index_html |
Last Updated on Thursday, 25 March 2010 22:13 |